The Chinese-owned TikTok has signed a deal to sell its U.S. business to three American investors so it can operate in the country free of Chinese influence.
The companies Oracle, Silver Lake, and MGX would be the three American investors to purchase the U.S. version of TikTok. An internal memo confirmed by Reuters and the Associated Press (AP) says the deal had been signed.
“The new TikTok US joint venture will be 50% held by a consortium of new investors, including Oracle, Silver Lake and Abu Dhabi-based MGX with 15% each,” the Guardian said of the memo. “Another 30.1% will be held by affiliates of existing ByteDance investors and 19.9% will…
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